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Institute of Family Businesses Institute of Family Businesses Activity Report Sept. 1, 2013 — Aug. 31, 2014 Activity Report Sept. 1, 2013 — Aug. 31, 2014 Institute of Family Businesses WHU - Otto Beisheim School of Management Burgplatz 2 D - 56179 Vallendar Germany Tel.: +49 (0) 261 / 6509 - 331 Fax: +49 (0) 261 / 6509 - 339 E-Mail: [email protected] www.whu.edu 2 Table of Contents Page Foreword 5 The Institute 6 - Organization Chart 6 - Faculty 7 - Research Assistants 9 - Personal Assistant 10 - External Doctoral Students 11 - Past Doctoral Students 13 Academic Programs 14 - Overview 14 - Course Descriptions 15 - Guestlectures / Guestlecturers 19 - Excursions / International Exchange 20 - Bachelor and Master Thesis 21 Research 22 - Current Research Projects 22 - Publications 27 - Presentations 28 - Awards 29 - Reviewer Activities 30 - Research Colloquia 31 - Supervisions and Co-Supervisions 32 Executive Education & Business Engagement 33 - Summer Program 33 - Faculty Speakers Series 33 Community Outreach 34 - Events 34 - Collaboration with Boards 38 - Practical Publications and Presentations 39 - Other Activities 41 3 4 Foreword Dear families, Dear owners and managers in family firms, Dear family business community, Family business as a field of research and teaching is maturing. Major institutions in the field of management such as the Academy of Management or the Strategic Management Society incorporate Family Business as a growing field, even offering extensions of their annual conferences on this topic. The WHU team is a well-accepted player in this evolving field. Over the last year we got two top publications accepted, one in Strategic Management Journal and one in Journal of Business Venturing. Although this re- search seems far from practice, the practical implications already have reached the German family business community. At the Campus for Private Wealth as well as at the General Assembly of two major branch associ- ation I presented our “translated” results, thus, our results in business rather than research language, and -back from business owners was overwhelming. Starting this fall semester 2014, we welcome Assistant-Professor Dr. Max Leitterstorf who will concentrate his research on finance of family firms. This area of research is largely underdeveloped on one hand, on the other it is of outmost importance to every family firm. We are thankful to Bankhaus MerckFinck and especially to their CEO Baron von Boeselager who sponsor Dr. Leitterstorf. Although not formally linked to our institute, we are very happy to welcome Prof. Dr. Christina Günther and Prof. Dr. Christian Hagist. Professor Günther holds the IHK-Koblenz sponsored chair for SME management and Professor Hagist holds the chair for transgenerational economic policy which is sponsored by Familienun- ternehmer-ASU and renowned family businesses such as Deichmann SE, Otto Bock HealthCare GmbH, Röchling Group, Tengelmann Warenhandelsgesellschaft KG, Trumpf GmbH & Co. KG, and Vetter Pharma Fer- tigung GmbH & Co. KG. We are looking forward to cooperating with Prof. Günther and Prof. Hagist in re- search, in teaching and in outreach. In the years to come our growing team will continue our research and translate it to the world of our sponsors and their families. We are optimistic to attract more practitioners and faculty to support us on our way. Vallendar, September 2014 Prof. Dr. Sabine Rau Head of the Institute 5 The Institute I Organization Chart * not integrated in the institute but closely collaborating Prof. Dr. Sabine Rau is the head of the Institute of Family Businesses and chairholder of the chair for family business- es. Beyond that Prof. Franz W. Kellermanns, Ph. D. (University of North Carolina) as an associated faculty member and Prof. Dr. Peter May as an honorary professor of WHU are closely connected to the institute. This also applies to the Assistant-Professorship of Family Offices represented by Dr. Carolin Decker. The WHU strengthens its faculty in the area of family firms with the assistant professorship of Dr. Leitterstorf. The main focus is to better understand the financing behavior of family firms. The aim is to compare not only the behavior of family firms vs. non-family firms, but also to assess the heterogeneity within the group of family firms. A potential long-term goal is the development of a capital structure theory for family firms. Such a theory (in contrast to tradition- al capital structure theories) would need to sufficiently address the non-economic goals that are particularly important for family firms. On September 1, 2013 Prof. Dr. Ayse Karaevli started her teaching and research at WHU. She holds the Chair of Organizational Change and Family Business which is closely collaborating with the Institute of Family Businesses. Four research assistants strengthen the institute’s team (respectively doctoral students). Beside this six external doc- toral students do research on different topics in parallel. Last but not least Jutta Walendy supports the institute actively as a personal assistant and takes care of all matters concerning the day-to-day office routine. 6 The Institute I Faculty Prof. Dr. Sabine B. Rau I Head of Institute and Chair Holder For more than 20 years Sabine Rau does research on Family Businesses.Coming from a Family Business whe- re she was part of the advisory board and temporarily worked as CEO she focuses on the company charac- teristics which arise from the family influence. At the same time she is interested in the influences the firm exerts on the family especially the development of the next generation. Sabine Rau studied management and psychology at University of Münster und Munich (LMU) and received a doctarate by Dr. Lutz von Rosenstiel (LMU) and Prof. Diether Gebert (Uni Bayreuth) on the subject „Der Einfluss von Werten auf die Gestaltung von Organisationen.“ Before accepting the chair at WHU at the beginning of 2010 she lectured and did research at University of Trier, later at INSEAD in Fontainebleau and build up the division „Family Firms“ at EBS between 2004 and 2009. From 2003-2007 Sabine Rau was president of the international research association in the field of family firms (www.ifera.org) and is activ as a board member and reviewer for different academic journals. Her research has been published in Strategic Management Journal, Journal of Business Venturing, Entrepreneurship, Theory & Pratice, Journal of Small Business Management, Family Business Review and others. Tel.: +49 (261) 6509 780 I Fax: +49 (261) 6509 339 I [email protected] Prof. Dr. Ayse Karaevli I Chair Holder Prof. Dr. Ayse Karaevli is a Professor of the Otto Beisheim Endowed Chair in Organizational Change and Fami- ly Business since September 2013. She holds a Doctor of Business Administration from Boston University, and completed her post-doctoral studies at the Kellogg School of Management at Northwestern University. Her research is in the broad area of strategy with a focus on strategic and organizational change, board of di- rectors, CEO successions, and top management teams. Professor Karaevli is the author and co-author of sev- eral research articles published in top tier international peer-reviewed academic journals, such as Strategic Management Journal, Journal of Management Studies, Journal of Vocational Behavior, Sloan Management Review, and Organizational Dynamics. She also co-authored book chapters published by top international publishing houses. She is a recipient of Turkish Science and Technology Institute’s career award, and had pre- viously taught at Boston University School of Management, USA, and Sabanci University School of Manage- ment in Istanbul. Professor Karaevli also served as a strategic change and innovation coordinator and top management strategy advisor to Sabanci Holding, the second largest conglomerate of Tur- key, and as an executive board member of Turkish Industry & Business Association- Sabanci Forum. During her work in the USA, she gave consultancy services to Ford Motor Co., and served as a research associate of Boston University Executive Development Roundtable in developing executive programs for large U.S. corporations (including Mi- crosoft, Boeing, BP, Eli Lilly, Goldman Sachs, Sun Microsystems, International Paper, Amgen) on strategic leadership, organizational development and change, and business per- formance issues. Tel.: +49 (261) 6509 330 I Fax: +49 (261) 6509 339 I [email protected] Prof. Franz W. Kellermanns Ph.D. I Associated Member of the Faculty Franz W. Kellermanns is the Addison H. & Gertrude C. Reese Endowed Chair in International Business and Professor of Management at Belk College of Business at the University of North Carolina – Charlotte. He holds a joint appointment with the Institute of Family Businesses at the WHU–Otto Beisheim School of Management (Germany). He received his PhD from the University of Connecticut. His research interests include strategy pro- cess and entrepreneurship with a focus on family business research. He is an Editor of Entrepreneurship Theo- ry and Practice and former associate Editor of Family Business Review. He has published in journals such as Organization Science, Journal of Management, Journal of Management Studies, Journal of Organizational Be- havior, Journal of Business Venturing, Entrepreneurship Theory and Practice, Family Business Review, Acade- my of Management Learning and Education. He is a co-editor of the recent books “Handbook of Strategy Process Research” and "Innovating Strategy Process." He serves on the Editorial Boards of Journal of Business Venturing, Journal of Management, Journal of Management Studies, Family Business Review, Journal of Family Business, Strategy and Strategic Entrepreneurship Journal. Tel.: +49 (261) 6509 331 I Fax: +49 (261) 6509 339 I [email protected] 7 The Institute I Faculty Prof. Dr. Peter May I Honorary Professor Peter May is a lawyer and economist and grew up in a family business which he successfully managed for sev- eral years. The founder of the INTES is to be considered as an expert for family firms. He was owner of the Wild Group chair of Family Business at the IMS in Lausanne and holds a honorary professorship at WHU – Otto Beisheim School of Management in Vallendar.
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